Migration Newsflash: Enhanced investor visa program

Migration: Enhanced investor visa program

The Australian Trade Commission has released a draft investment framework for an enhanced Significant Investor Visa Scheme (SIV), and design options for a new Premium Investor Visa (PIV). The proposed framework suggests that half of each applicant’s investment will be directed into managed funds investing in venture capital and small emerging companies.

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Under the existing SIV scheme investment is directed largely into lower risk investments like government bonds. Applicants are required to make an investment of at least AUD 5 million in complying investments for a minimum of 4 years. Under the proposed changes government bonds would no longer be a complying investment class.

The proposed complying investment framework for the SIV scheme includes:

Industry consultations will continue before the final details of the proposed framework are settled. Changes to complying investment policy for the SIV and new PIV would likely take effect from 1 July 2015.

Initial indications are that applications lodged prior to 1 July will be determined on the basis of the currently existing investment framework.